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Unique Victor Harbour investment opportunity hits the market

​Adelaide, 12 September 2013-A property accommodating a prominent medical centre in Adelaide’s Victor Harbour has been listed for sale, offering an exceptional investment opportunity in a premier seaside regional centre.

Located at 20-22 Torrens Road, the 1,338sqm site comprises a 267sqm renovated brick building and 185sqm upgraded stone villa – both of which are occupied by the Victor Medical Centre, who are also in the adjoining property.

CBRE’s Alistair Laycock and Andrew Park, who are marketing the property on behalf of a private owner, said the strong tenant covenant would be a key selling factor.

“This property represents an attractive investment opportunity for private investors and SMSF’s looking for a long term lease and minimal management,” Mr Laycock said.

Victor Medical Centre has committed to a 10-year lease on the property, with two five-year options to renew. The commencing rental is $130,000 net per annum, with the tenant paying most of the outgoings.

Mr Park said the current economic climate would attract buyers to the asset.

“With interest rates at record lows, this property can be cash-flow positive from day one and the buyer(s) don’t need to think about re-leasing the property for at least 10 years,” Mr Park explained.

The property, which will be sold via public auction on September 26, benefits from dual street access, with 47m frontage onto Torrens Street and 22m frontage onto Ocean Street.

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